TSR, Inc. Reports Financial Results for the First Quarter Ended August 31, 2006 and Declares Quarterly Dividend of $0.08 Per Share.HAUPPAUGE, N.Y. -- TSR (Terminate and Stay Resident) Refers to a program that remains in memory when the user exits it in order that it be immediately available at the press of a hotkey. , Inc. (Nasdaq:TSRI TSRI The Scripps Research Institute TSRI Taiwan Sugar Research Institute ), a provider of computer programming consulting services, today announced financial results for the first quarter ended August 31, 2006. For the quarter ended August 31st, revenues decreased 0.7% from the same quarter last year to $12.4 million. Consolidated net income decreased 6.3% from the comparable period to $444,000. Additionally, earnings per share remained at $0.10. The Company also announced that the Board of Directors had declared a cash dividend of $0.08 per share for its first fiscal quarter. The dividend will be payable November 2, 2006 to shareholders of record as of October 18, 2006. Joe Hughes, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated, "The decrease in income from operations of 20% in the quarter ended August 31, 2006 resulted primarily from new and increased discount programs at major customers and the expenses associated with hiring additional account executives and technical recruiters to address increasing competition. Increased interest income and a decreased effective income tax rate offset, to some extent, the decrease in net income." "The Company only had a small decline in revenues and consultants on billing in spite of the reduction in consultants placed with the New York City Department of Education The New York City Department of Education is the branch of municipal government in New York City that manages the city's public school system. The school system these schools form is the largest system in the United States. Over 1. from 41 at May 31, 2006 to 13 at the end of the current quarter. Additional placements at other accounts have offset most of the reduction at DOE." Certain statements contained herein are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual results may differ materially from those set forth in the forward-looking statements due to known and unknown risks and uncertainties, including but not limited to those described in the Company's filings under the Securities Exchange Act of 1934. Based in Hauppauge, New York Hauppauge (pronounced /hɔpɔg/) is a hamlet in the Town of Islip and the Town of Smithtown in Suffolk County, New York, United States. , TSR, Inc. provides information technology professionals to major corporations. [TABLE OMITTED] |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion